Hassan Maishera
TL;DR
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Asset management firm Grayscale has filed for three new ETFs with the United States SEC.
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The firm wants to expand its presence in the digital asset space.
Grayscale Files To List The Grayscale Ethereum Futures ETF, Two Others
Asset management firm Grayscale has filed documents with the United States Securities and Exchange Commission (SEC) for three new exchange-traded funds (ETFs).
The asset management firm seeks to expand its offering in the cryptocurrency space. Grayscale is seeking to register the Grayscale Ethereum Futures ETF, Grayscale Global Bitcoin Composite ETF and Grayscale Privacy ETF.
NEW TODAY: We’re proud to announce the formation of Grayscale Funds Trust, a Delaware statutory trust structure that enhances our capabilities as a global asset manager.
— Grayscale (@Grayscale) May 9, 2023
Investors want and deserve access to future-forward investment opportunities, and Grayscale Funds Trust will… pic.twitter.com/qEeqwWHNSe
Grayscale also sent papers to the SEC as it seeks to create the Grayscale Funds Trust, a Delaware statutory trust structure, that will allow the firm to independently manage its 1940 Act products.
The CEO Michael Sonnenshein stated that;
"We are putting the necessary foundations in place so Grayscale can continue creating and managing regulated, future-forward products.”
This latest development comes with Grayscale currently locked in a legal dispute with the SEC after the regulatory agency rejected its proposal to convert its GBTC fund into a spot Bitcoin ETF. The asset management firm said it expects a final court ruling on the case before the end of the year.
Grayscale pointed out that the new ETFs are yet to become active since they haven’t been approved by the SEC. furthermore, the Ethereum Futures fund and the Bitcoin Composite ETFs will not invest in digital assets directly.
While talking about the Grayscale Ethereum Futures, the asset management firm said the fund seeks to achieve its investment objective primarily through actively-managed exposure to ethereum futures contracts.
Meanwhile, the Bitcoin Composite ETF will seek investment results that track the performance of the Indxx Global Bitcoin Composite Index, Grayscale added.
